Chiliz (CHZ) price rises after the launch of the new DEX for its users - BiticaNews


As the cryptocurrency market slowly recovers from last week's slump, the Chiliz token (CHZ) is up over 8%, becoming one of the top gainers in the cryptocurrency market today, while the overall cryptocurrency market cap has dropped. about 1.8% in the last 24 hours.

At the time of writing, Chiliz (CHZ) was trading at $0.1289, up 8.79% after retracing from a daily high of $0.1403.

CHZ chain 2.0 new DEX for fan tokens

CHZ, the native token of the Chiliz blockchain that helps sports teams launch their fan tokens, has dissociated itself from current market sentiments, with its recent rally helping it to cover last week's loss.

Chiliz CEO Alexandre Dreyfus noted that the CHZ 2.0 chain will launch the first decentralized cryptocurrency exchange (DEX) for its fan tokens. With this move, the liquidity of the token is expected to increase, but also the new DEX will come with certain features that will allow third-party developers to develop new features.

Fans who invest in fan tokens will gain the power to interact with other clubs, however this has not yet made much of an impact on the market as some fan token holders are complaining that the perks are not worth it.

While the CHZ token is still down more than 38% in the past month as a result of the recent market crash, it has held firm by maintaining its ranking in the 65 positions among the biggest cryptocurrencies in the market.

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